Donor Advised funds provide maximum convenience and flexibility by enabling donors to recommend contributions to charitable organizations through The Norfolk Foundation. Through their advised funds, donors can make suggestions for distributions to specific charities and work with Foundation staff to learn about community priorities. Click here to download the Donor Advised sample form. Click hereto download a Donor Advised Funds flier.

Example: Charles E. and Carolyn W. Plimpton

Donor Advised Fund
Charles and Carolyn Plimpton of Virginia Beach spent 26 years building their Hertz rental car franchise into one of the largest in the country. In 2000 they sold their business after “deciding it was finally time to pursue some of our personal interests,” Charles Plimpton says.

The Plimptons’ charitable instincts led them to find the most effective way to give back to the Hampton Roads community that has meant so much to them during the past few decades.

“Initially, we explored the creation of a private foundation,” Plimpton says. But the lengthy Internal Revenue Service approval process, costly administrative fees and continual paperwork associated with tax regulations made them look at other options.

“Of the charitable vehicles available, a donor advised fund was the obvious answer," Plimpton says. The Plimptons looked into starting funds with Fidelity, Vanguard and other commercial organizations. “We quickly learned that these funds lack the versatility offered by a community foundation and provide a very narrow level of service,” Plimpton explains. “In my opinion, you are dealing with a faceless entity that has no genuine understanding of your desires and interests. These organizations are unable to identify local needs…”

The solution for the Plimptons was starting a donor advised fund with The Norfolk Foundation. The process was simple, fees are low and the Plimptons don’t have to worry about ongoing paperwork. In addition, the Plimptons work with Foundation staff members “dedicated to making a positive difference in the quality of life” in southeastern Virginia, Plimpton says. “Placing a donor advised fund in the hands of a community foundation allows the individual to embrace the needs of his or her surrounding community.”

The Plimptons now have the opportunity during their lifetimes to see the good their gifts can accomplish.